JSW Steel has emerged as the “preferred bidder” of mining lease for iron ore mineral in two blocks, located in Goa, stated a regulatory filing made by the Mumbai-headquartered steelmaker on June 12.
“The company has been declared as a ‘preferred bidder’ vide communication dated June 9, 2023, received from the Directorate of Mines and Geology, Goa,” JSW Steel informed the stock exchanges. The auctions were conducted by the state government.
The two blocks – ‘Block VI- CudnemCormolem Mineral Block’ and ‘Block IX-Surla-Sonshi Mineral Block’ – are based in North Goa districts, and their iron ore resources are projected to be 9.77 mln tons and 65.73 mln tons, respectively.
The company further noted that it will take all the requisite steps as per the tender document to obtain a Letter of Intent, along with “all statutory clearances to execute the Lease Deed with Mine Development and Production Agreement and start the mining operations”.
